In recent trading session, Navitas Semiconductor Corp (NASDAQ:NVTS) saw 1.61 million shares changing hands at last check today with its beta currently measuring 2.31. Company’s recent per share price level of $2.78 trading at $0.32 or 13.01% at last check today assigns it a market valuation of $519.29M. That most recent trading price of NVTS’s stock is at a discount of -203.6% from its 52-week high price of $8.44 and is indicating a premium of 37.05% from its 52-week low price of $1.75. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 3.76 million shares which gives us an average trading volume of 2.97 million if we extend that period to 3-months.
For Navitas Semiconductor Corp (NVTS), analysts’ consensus is at an average recommendation of Buy while assigning it a mean rating of 1.78. Splitting up the data highlights that, out of 2 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 0 suggested the stock as a Hold whereas 2 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -0.06 in the current quarter.
Navitas Semiconductor Corp (NASDAQ:NVTS) trade information
Upright in the green today for gaining 13.01%, in the last five days NVTS remained trading in the green while hitting it’s week-highest on Tuesday, 11/26/24 when the stock touched $2.78 price level, adding 2.11% to its value on the day. Navitas Semiconductor Corp’s shares saw a change of -65.55% in year-to-date performance and have moved 37.62% in past 5-day. Navitas Semiconductor Corp (NASDAQ:NVTS) showed a performance of 4.12% in past 30-days. Number of shares sold short was 27.84 million shares which calculate 9.28 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of 6.5 to the stock, which implies a rise of 57.23% to its recent value today. Analysts have been projecting 4 as a low price target for the stock while placing it at a high target of 13. It follows that stock’s current price would drop -43.88% in reaching the projected high whereas dropping to the targeted low would mean a loss of -43.88% for stock’s current value.
Navitas Semiconductor Corp (NVTS) estimates and forecasts
Statistics highlight that Navitas Semiconductor Corp is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -28.90% of value to its shares in past 6 months, showing an annual growth rate of -25.00% while that of industry is -3.00. Apart from that, the company came lowering its revenue forecast for fiscal year 2024. This year revenue growth is estimated to rise 6.23% from the last financial year’s standing.
7 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of 19.03M for the same. And 7 analysts are in estimates of company making revenue of 15.8M in the next quarter. Company posted 26.06M and 23.18M of sales in current and next quarters respectively a year earlier.
In 2024, company’s earnings growth rate is likely to be around -24.74% while estimates for its earnings growth in next 5 years are of 20.00%.
Navitas Semiconductor Corp (NASDAQ:NVTS)’s Major holders
Insiders are in possession of 25.78% of company’s total shares while institution are holding 42.03 percent of that, with stock having share float percentage of 56.63%. Investors also watch the number of corporate investors in a company very closely, which is 42.03% institutions for Navitas Semiconductor Corp that are currently holding shares of the company. BLACKROCK INC. is the top institutional holder at NVTS for having 9.9 million shares of worth $38.9 million. And as of 2024-06-30, it was holding 5.5059 of the company’s outstanding shares.
The second largest institutional holder is VANGUARD GROUP INC, which was holding about 9.69 million shares on 2024-06-30. The number of shares represents firm’s hold over 5.3884 of outstanding shares, having a total worth of $38.07 million.
On the other hand, Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF are the top two Mutual Funds which own company’s shares. As of Jun 30, 2024 , the former fund manager was holding 4.0 shares of worth $11.08 million or 2.14% of the total outstanding shares. The later fund manager was in possession of 3.35 shares on Aug 31, 2024 , making its stake of worth around $9.27 million in the company or a holder of 1.79% of company’s stock.
